2008 (3) TMI 570

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....Appellant. Shri B.K. Singh, JCDR, for the Respondent. [Order per : K.K. Agarwal, Member (T)]. -  This is an application for staying the recovery of duty amounting to Rs. 27,12,425/- and penalty of Rs. 5 lakhs imposed by the Commissioner vide his impugned order. After hearing both the sides for some time, we felt that the appeal itself can be disposed off and therefore after noticing ....

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....scheme in terms of Para 4.2.7 of Exim Policy. The DGFT further stated that the Customs Authority would not cancel the Bond/LUT against the subject licence till the importer got final conversion and got their Import-Export regularized under relevant Customs Notification from Customs. 3. The appellants thereafter approached the Customs authorities for conversion of the Bill of Entry and Ship....

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.... the Customs Act, and the section does not place any such restriction contemplated in the Board's Circular. There has been no misdeclaration on their parts as all relevant facts were correctly declared by them to DGFT and it is they who realizing their mistake have asked them to approach Customs Authorities for conversion under jobbing scheme. It is his claim that he satisfied all the conditions p....

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....ioner has rejected the request solely on the ground that there is no provision in the CBEC Circular No. 4/2004 for converting the bills of entry and shipping bills for the purpose of jobbing. No other reasons have been given. Since it is the appellants claim that they do satisfy the conditions prescribed under the Notification No. 32/1997 and will be able to convince the jurisdictional officer abo....